The Asia Pacific reed sensors market size is estimated to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the high demand for electric vehicles. Moreover, stringent government regulations regarding passenger safety is driving the market growth.
A reed switch is an electromagnetic switch that is used to control the current in a circuit. It is manufactured using at least two ferrous reeds encased inside a little glass tube-like cover, which gets charged and move together or separate when an attractive field is transferred toward the switch. The switch viably works similar to a gate or a scaffold in an electric circuit. Thus, when the two reeds are in touch, current can pass around the circuit. Unlike mechanical switches they don't need a personnel to flick them on or off. However, they are controlled totally by imperceptible attractive fields.
Two types of settings exist in a reel switch, which is normally close and normally open. In a normally open switch, the two reeds, which are produced using nickel-iron composite are situated in such a way that they are not contacted to each other. The normally closed reed switches work on a similar guideline as the former one, except that the switch utilizes an underlying magnet to keep its two contacts in an energized state. This imply that the switch's default position is to keep the circuit closed, allowing the electrical current to flow through the circuit.
The report on the Asia Pacific reed sensors market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes | Details |
Report Title | Reed Sensors Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year | 2020 |
Historic Data | 2018–2019 |
Forecast Period | 2021–2028 |
Segmentation | Types (Cylindrical Panel Mounts, Surface Mounts, and Others), Vehicle Types (Passenger Cars and Commercial Vehicle), Applications (Internal Sensors, Speedometer, Tachometer, and Cruise Control, and Others) |
Geographical Scope | India, China, South Korea, Japan, and Rest of Asia Pacific |
Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report | Littlefuse Inc.; Bimba Manufacturing Company; Comus International; Coto Technology; and GE Ding Information Inc. |
Based on types, the market is divided into cylindrical panel mount, surface mount, and others. The cylindrical panel mounts segment is expected to exhibit a healthy CAGR during the forecast period due to their capacity to provide better shock efficiency.
On the basis of vehicle types, the Asia Pacific reed sensors market is segregated into passenger cars, commercial vehicle. The passenger segment is projected to expand at a considerable CAGR during the forecast period owing to shifting interest of customers for electric vehicles due to increasing environmental concerns and stringent government regulations.
On the basis of applications, the market is bifurcated into internal sensors, speedometer, tachometer, and cruise control, and others. The cruise control segment is expected to account for a significant market share in the projected timeline owing to growing demand for cars in premium segment.
In terms of regions, the Asia Pacific reed sensors market is classified as India, China, South Korea, Japan, and Rest of Asia Pacific. China is expected to constitute a key share of the market in the projected timeline. Rising focus on government state bodies in country on investment in infrastructure to boost their manufacturing industry is driving the growth of the market in the country.
Key players competing in the Asia Pacific reed sensors market are Littlefuse Inc.; Bimba Manufacturing Company; Comus International; Coto Technology; and GE Ding Information Inc.
Some of the major players are entering into strategic partnerships with the global leaders to enhance their market presence.
Key players competing in the Asia Pacific reed sensors market are Littlefuse Inc.; Bimba Manufacturing Company; Comus International; Coto Technology; and GE Ding Information Inc.
Some of the major players are entering into strategic partnerships with the global leaders to enhance their market presence.
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